Yellen is Top Pick to Lead The Fed

There's a new milestone for women in finance, but it is perhaps a detail lost in the maelstrom of Washington politics.

Janet Yellen is now President Barack Obama's official choice to replace Ben Bernanke as chairman of the Federal Reserve when his term expires early next year.

Yellen is the number 22 at the Fed and she's the second choice of President Obama. But her expertise in executing and understanding the current Fed policies may be an asset in projecting to the world that the Fed plans to stay the course in U.S. monetary policy.

Joining us to discuss this news is Elizabeth Duke, a former Federal Reserve governor who joined the board following President George W. Bush's nomination in 2008. Duke served until August of this year.

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If BHO had followed Yellen's advice in 2009, the stimulus would have topped $1T and a half-million more of us would have gone back to work. Year One deficit would have added $200M but the 'back to work' mentality would have cut deficits in later years.

By following the GOP austerity model, we have prolonged the pain of the Recession they caused.

Too much stimulus before, not enough after. The President, Geithner and Bernanke failed to explain how if too much stimulus got us into trouble, even more would get us out.

Hopefully, Yellen is pro-jobs for positive effect on our economy, and not so pro-banking to the detriment of the economy. However, with the House determined to deny any of the President's requests, I'd guess we will be without a Fed Chairperson for a good while. Anarchy is the minority's aim. ::ARGH::[